Plant-Based Food Market Report: Trends, Forecast and Competitive Analysis to 2030

Plant-Based Food Trends and Forecast

The future of the global plant-based food market looks promising with opportunities in the organic and conventional markets. The global plant-based food market is expected to reach an estimated $25.4 billion by 2030 with a CAGR of 12.0% from 2024 to 2030. The major drivers for this market are growing demand for plant-based dairy products among individuals with lactose intolerance, increasing rates of chronic lifestyle disorders, and increasing popularity of flexitarians and vegans.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Plant-Based Food by Segment

The study includes a forecast for the global plant-based food by type, category, distribution channel, and region.

Plant-Based Food Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Plant-Based Milk & Derivatives
• Bakery & Confectionery
• Sweet & Savory Snacks
• Plant-Based Juices
• Ready-to-Drink Tea & Coffee
• Ready-to-Eat
• Read-to-Cook Meals
• Others

Plant-Based Food Market by Category [Shipment Analysis by Value from 2018 to 2030]:

• Organic
• Conventional

Plant-Based Food Market by Distribution Channel [Shipment Analysis by Value from 2018 to 2030]:

• Store-Based
• Non-Store-Based

Plant-Based Food Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Plant-Based Food Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies plant-based food companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the plant-based food companies profiled in this report include-

• DSM
• DuPont
• Amway
• The Nature's Bounty
• GlaxoSmithKline
• Nestle
• RiceBran Technologies
• Mead Johnson & Company
• Medifast
• Premier Nutrition

Plant-Based Food Market Insights

Lucintel forecasts that plant-based milk & derivative will remain the largest segment over the forecast period.

Within this market, organic will remain the largest segment over the forecast period.

APAC is expected to witness the highest growth over the forecast period.

Features of the Global Plant-Based Food Market

Market Size Estimates: Plant-based food market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Plant-based food market size by type, category, distribution channel, and region in terms of value ($B).

Regional Analysis: Plant-based food market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different types, categories, distribution channels, and regions for the plant-based food market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the plant-based food market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the plant-based food market size?

Answer: The global plant-based food market is expected to reach an estimated $25.4 billion by 2030.

Q2. What is the growth forecast for plant-based food market?

Answer: The global plant-based food market is expected to grow with a CAGR of 12.0% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the plant-based food market?

Answer: The major drivers for this market are growing demand for plant-based dairy products among individuals with lactose intolerance, increasing rates of chronic lifestyle disorders, and increasing popularity of flexitarians and vegans.

Q4. What are the major segments for plant-based food market?

Answer: The future of the plant-based food market looks promising with opportunities in the organic and conventional markets.

Q5. Who are the key plant-based food market companies?

Answer: Some of the key plant-based food companies are as follows:

• DSM
• DuPont
• Amway
• The Nature's Bounty
• GlaxoSmithKline
• Nestle
• RiceBran Technologies
• Mead Johnson & Company
• Medifast
• Premier Nutrition

Q6. Which plant-based food market segment will be the largest in future?

Answer: Lucintel forecasts that plant-based milk & derivative will remain the largest segment over the forecast period.

Q7. In plant-based food market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness the highest growth over the forecast period.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the plant-based food market by type (plant-based milk & derivatives, bakery & confectionery, sweet & savory snacks, plant-based juices, ready-to-drink tea & coffee, ready-to-eat, read-to-cook meals, and others), category (organic and conventional), distribution channel (store-based and non-store-based), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?